US regulator probes oil trades before Trump delayed Iran strikes – WSJ
The US Commodity Futures Trading Commission is scrutinizing a surge in oil futures trading that occurred moments before President Donald Trump postponed planned strikes on Tehran’s energy infrastructure in March, the Wall Street Journal reported on Tuesday.
According to the report, more than $800 million worth of US and international oil futures changed hands within minutes before Trump announced on March 23 that he was delaying military action for five days following what he described as productive talks with Iran.
Oil prices plunged after Trump’s post, generating major profits for traders who had correctly bet prices would fall.
The Journal said the CFTC is examining activity involving at least three firms as part of an inquiry into whether anyone traded on advance knowledge of the president’s decision.